For business owner-occupied properties and real estate investors
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Commercial Mortgage Benefits
- Amounts from $100,000 to $5,000,000
- Terms up to 10 years
- Amortization up to 25 years 30 for residential properties
- A permanent mortgage
"Commercial Loan Obtained has Great Interest Rate and Very Good Terms"
My experience working with the loan and customer representatives was great. They were very accommodating and helpful in completing all the necessary documentation. They listened to what I had to say and worked to meet my financial needs. Great experiences!
— Junior826, Westborough, Massachusetts
Whether you occupy your property with your business or you are a real estate investor, DCU has the mortgage for you. DCU's Commercial Mortgages can be used for business purposes including...
- New additions
- Consolidate loans
- Refinance an existing commercial mortgage
- Purchase a new building
- Cash out
- Short term cash needs
Commercial Mortgage Features
- Is a permanent mortgage
- Loan amounts from $100,000 to $5,000,000
- Business owners, investors, and experienced contractors are eligible to borrow.
- All mortgages not granted in individual name(s) will require the guaranty of the principal(s). If a building owner is occupied, the business will also guaranty the loan.
- Terms up to 10 years
- Amortization up to 25 years 30 for residential properties
- Interest rate is based on the credit, loan-to-value, debt service coverage, and other credit related factors.*
- Generally carry a fixed 5-year interest rate. The rate will be adjusted at the fifth anniversary of the loan based on the Treasury bill rate plus a spread.
- Collateral: first position on the property
- Up to 75% Loan-to-Value (80% for strong borrowers). All liens on the property including DCU's first mortgage and other secondary mortgages cannot exceed 80% loan-to-value during the life of the loan.
Commercial Mortgage Minimum Requirements
- Businesses have to be in business for at least 18 months.
- Property owner must be in Massachusetts, New Hampshire, or Rhode Island.
- Personal Credit must be satisfactory.
*The rates, terms, and conditions above are guidelines and may not apply in certain situations. A DCU Representative will discuss any variations with you. Rates, terms, and conditions are subject to change without notice.
Commercial Mortgages is rated out of 5 by 19.
Rated 5 out of 5 by jrconnor from Good product. I like the 3 year rate roll over feature Competitive rates and minimum of bureaucratic paperwork compared to CMSB loan
Date published: 2017-06-12
Rated 5 out of 5 by Buyer from Great rates, excellent service DCU were able to match the loan terms that I had, and get a much lower rate. They were very responsive and professional, and were never the ones to cause any delay in the purchase process.
Date published: 2017-05-27
Rated 5 out of 5 by Dror from Great bank to work with Bonnie Reagan and David Bromberg have been instrumental in my choosing to keep working with DCU. They have been wonderful and understanding my needs and working with me through a complex business endeavors. I have been with the bank for a few years now and it shown the flexibility and customer oriented approach that had helped my business grow and flourish. I kept choosing DCU because of these relationship. I am thankful for DCU and especially Bonnie and David for their support. I am highly recommending the bank to my associates. Thank you
Date published: 2016-05-28
Rated 5 out of 5 by Andreas from David Bromberg I work with Several Commercial Banks and David Bromberg is the best Commerical Lender !!
Date published: 2015-08-29
Rated 5 out of 5 by Kirk59 from Great commercial loan rates DCU has the low rates of the big banks with the high level of service found at small community banks. It's the perfect fit for small to mid-sized businesses like ours.
Date published: 2015-08-01
Rated 5 out of 5 by Ray13 from The commercial loan met and exceeded all my expectations I would like to commend Heather Storme of the Marlboro Branch for doing an outstandind job. First, she was quick to respond to every e-mail and phone message I sent or left. Heather went out of her way to help me when ever I was confused, completely understood my situation and made recommendations that were extremely helpful (which I did implement). I felt she was concerned and this wasn't just a job, she was trying to help and assist me as a team member in solving my problem. She has helped me in the past with the required financial reporting required for commercial loans. She is the reason why when refinacing, I once again chose the DCU because I wanted Heather on "my team". I have been a member of the DCU from the first day of inception, and it is because of people like Heather that I have remained a menber for all these years.
Date published: 2013-07-16
Rated 5 out of 5 by goCOO from DCU Structured Two Commercial Loans to meet our specific needs We recently restructured the existing debt on several multi-tenant commercial properties. Credit review and loan particulars contained many moving parts, but DCU and its' commercial loan officer worked closely with us in order to accomplish our goals and to close the new commercial loans swiftly. Highly recommended for doing exactly what they said they would do.
Date published: 2013-07-10
Rated 5 out of 5 by Mike from very flexible We have been dealing with Heather Storme and her group on a number of recently purchased properties over the past year and have been extremely impressed with the professionalism, attention to detail and strategic thinking that your bank provides in executing our loans. It is this extra effort that has been critical to our success and our ability to grow our business at a pace we never thought possible.
Date published: 2013-01-23
I have been given an opportunity to purchase commercial property but it is located in Ga. Is there any way to apply for commercial loan with DCU.
I apologize however at this time DCU is able to offer Commerical Mortgages in Massachusetts, New Hampshire, or Rhode Island only.
Date published: 2015-11-14
Can I obtain a loan for investment property when I reside in Arizona?
Single family home to be rented. need to know rates, down payment requirements, estimated closing cost. Estimate approximately $100K loan requirement.
DCU Mortgages are available in all 50 states, including investment properties. Curernt rates may be found on our web site at https://www.dcu.org/prodserv/rates.html#c-invest . Please call us at 800/328-8797 option 3 to obtain a closing cost estimate.
Date published: 2013-10-23
"Excellent Products and Services"
Great experiences at DCU - from the branch to the Information Center all employees are friendly, responsive, helpful and understanding! Products are affordable, innovative and fresh.
— dayinalife, Mansfield, Massachusetts
Easy Ways To Apply Today
- For loans $500,000 or less and your business occupies over 50% or more of the building please complete and submit the QuickApp for Business Loans.
- For loans $750,000 or less and your business occupies less than 50% of the building please complete and submit the QuickApp for Investment Real Estate Mortgages.
- For investors if your mortgage loan request is for $750,000 or less please complete and submit the QuickApp for Investment Real Estate Mortgages.
- If your request is greater than $500,000 please call the Commercial Loan Department at 508.804.9188 or 800.328.8797 extension 9188.
If you have any questions, please consult our Frequently Asked Questions page or, don't hesitate to call us.
Please visit the Resources Tab to access all of our QuickApps and business forms.
"This is a Good Product at Fair Price"
I have had a good experience with DCU for my commercial mortgage. It is a good basic product, priced fairly, with a reasonable amount of "paperwork". I have enjoyed good service, delivered in a timely and professional manner.
— Jeff, Dover, Massachusetts
- Sole Proprietor Application (Business Account) (.pdf format)– If you are in DCU's field of membership you can open a DCU Business Account.
- Partnership, Limited Liability Partnership/Company, Corporation Application (Business Account) (.pdf format) – If all partners in your Partnership, members of your Limited Liability Company or stockholders or your Corporation are within DCU's field of membership, you can open a DCU Business Account.
- QuickApp for Investment Real Estate Mortgages (.pdf format) – Mortgage for investment property that is $500,000 or less.
- QuickApp for Business Loans (.pdf format) – Apply now for a loan for your business (includes business owner-occupied mortgages less than $500,000).
Business Related Forms
- Authorization to Obtain Financial Services – DCU requires the authorization of either all business owners or of the duly elected secretary authorized to act on their behalf in order to act on an application for membership. Please use this form if you do not have an existing resolution to provide.
- Business Account Change Form (.pdf format) – Members with existing DCU business checking and savings account use this form to change account information.
- Certification of Ultimate Beneficial Owners (.pdf format) – Must be completed by the person opening a new account on behalf of a legal entity
- Commercial Loan Payoff Request Form (pdf format) – Use this form to request a Commercial Loan Payoff.
- Personal Financial Statement Form (.pdf format) – Use this form when applying for a DCU Business Loan.
- Property Rent Roll and Operating Data Form (.pdf format) – Use this form when applying for a DCU Commercial Real Estate Mortgage.
- Starting or Buying a Business – You will need a business plan if you are: starting your own business, buying a business or franchise, in business for less than 18 months.
- StreetWise Glossary – Glossary of financial terms.
- How to Make Your Loan Payment – We make it easy to make your loan payment. Find out more about our convenient payment options.